Fast forward to 2021, the Covid-19 pandemic has led to market volatility and industry-wide disruption, but one positive thing that has emerged from 2020 is a heightened focus on ESG.
Citi joins large U.S. banks Morgan Stanley, Bank of America, and JPMorgan Chase in setting long-term targets to reduce its financed emissions in line with the Paris Climate Agreement.
By joining together with our industry peers in this effort, we can ensure that our member banks can participate in the transition in ways that make the most sense for their business, their customers and their communities.
Bank of American further shared that as part of its transition to net zero emissions, in July 2020, Bank of America joined the Partnership for Carbon Accounting Financials as a member of the Global Core Team.
This collaboration builds on Bank of America’s ongoing and recent efforts with partners to address the financing, technology, policy and other challenges inherent in the transition to a net zero global economy, including:
ESG considerations for the social factor include labor relations, workplace benefits, diversity & anti-bias issues, community development, tobacco & other harmful products, human rights, and executive compensation.
The world invested unprecedented amounts in low-carbon assets last year, from renewables to cleaner transport, energy storage to electric heat
Total sustainable debt issuance in 2020 was $732 billion, with social and sustainability bonds enjoying spectacular growth, and green bonds seeing a late-year surge